These are my personal musings. These are not in any way meant to be trading advise. To view the full chart, right click and open in a new window.Wow, another violent day in the markets. At times like this, I would like to remind readers that it is not necessary to trade everyday. Your broker does not hold a pistol to your forehead, and force you to trade.
So far, the trend is still up, with a higher top higher bottom pattern. I would still continue to retain a bullish outlook. Until a close below 5120.
A corrective phase is the most difficult to trade with huge and unexpected volatility. Though I am not an Elliottician, we could be entering a phase, which could be falling in the corrective Wave 4 category. On 9 October, it was suggested that we are looking ahead to a cycle in time on 24 October. Let us see what next Wednesday has to show us.
Plan your trade and trade happy.
1 comment:
Only 100 pts to go sirji ! in the meantime -
1. usa had a black monday on 15 oct 1987,
2.left-upa meet on monday, 22nd oct
3. 4500 oct puts sold at 8 Rs, one week back !
shd i hone my bear skills ?? i think i shall wait for the next post.... eagerly...
reg
ketan
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